Crowdstrike Is Entering the Nasdaq-100 Index
Crowdstrike (NASDAQ: CRWD) is the leader in endpoint security. Crowdstrike's Falcon platform stops breaches through both prevention and response, a process known as endpoint detection and response. It uses agent-based sensors that can be installed on Mac, Linux, and Windows. Crowdstrike relies on a cloud-hosted SaaS platform that manages data and prevents, detects, and responds to threats. Both malware and non-malware attacks are covered via Crowdstrike's cloud-delivered technologies in a lightweight solution.
Crowdstrike rocketed higher Tuesday morning after an announcement that the company is entering the Nasdaq-100 Index, the Nasdaq-100 Equal Weighted Index, and the Nasdaq-100 Technology Index prior to market open on Aug. 26, replacing Maxim Integrated Products, which is being acquired by Analog Devices. What does this mean for Crowdstrike's stock?
Obviously, investors are excited about the news. As I'm writing this, Crowdstrike stock is up over 8%, trading at $266 per share. Crowdstrike will enter the Invesco QQQ ETF (NASDAQ: QQQ), which tracks the Nasdaq-100 Index. The QQQ ETF was created in 1999, and it has significantly outperformed the S&P 500 index over the years. The Nasdaq-100 Index consists of the 100 largest companies listed on the Nasdaq. It's based on market cap and does not include financial companies such as banks.
Source Fool.com
